Key Points

Goyal was speaking at the ACMA's 65th Annual Session and was addressing the issue of the India-EU Foreign Trade Agreement.

He said that it is essential to expand trade between India and Europe while reflecting on EU President Ursula von der Leyen's quote, "In an era of conflicts and intense competition, you need trusted friends. For Europe, India is such a friend."

"We complement each other, we do not compete with each other. It's important that we look upon this relationship not purely from the lens of what we can do to expand trade between Europe and India, but for the larger impact that we can have worldwide. As Her Excellency President Ursula von der Leyen rightly said and I quote, "In an era of conflicts and intense competition, you need trusted friends. For Europe, India is such a friend," Piyush Goyal said while addressing the gathering.

He stressed that India's 1.4 billion population looks towards Europe as a friend, partner, strategic ally and a country that equally believes in fair play and the rule of law, high standards of quality, sustainability, inclusive growth, and all the principles that are dear to our Prime Minister and the people of India.

"I can assure all of you, in me, my colleagues, entire government, business community and for that matter, the 1.4 billion Indians look upon Europe as a friend, partner, strategic ally and a country that equally believes in fairplay and rule of law, high standards of quality, sustainability, inclusive growth, and all the principles that are dear to our Prime Minister and the people of India. We complement each other, we do not compete with each other," Goyal added.

Piyush Goyal also emphasised that ideas and negotiations can be done between "friends", those who trust each other.

He mentioned that both India and the European Union are trying to get the best deal for themselves. Goyal noted that India and the EU continue to labour towards a good tangible outcome, which can create a "win-win" situation for both sides.

"This is the kind of ideas and negotiations that can only be done between friends and those who trust each other. They are going to try to get the best deal for Europe, I will try to get the best deal for India. We can continue to labour towards good tangible outcomes, which should be a win-win for both sides, and I believe both sides are committed to that," Piyush Goyal said while addressing the event.

The Union Minister noted that India the India-European Union partnership will work as a role model for geopolitics and will also create opportunities for many other parts of the world.

"As the Prime Minister of India had said, India's partnership with Europe is built on shared values and a vision for a better world. This partnership with Europe is not only about us, we will be setting a role model for the geopolitics of the world and creating opportunities for many other parts of the world. A lot of things that are there in Europe, particularly technology and innovation, are not able to reach the whole world. But if you are to work with India, you could actually capture the world market," he added.

Piyush Goyal on Friday stressed that New Delhi is looking forward to a "very robust, fair, equitable, balanced, mutually beneficial" Free Trade Agreement with the EU that would strengthen the relationship between Europe and India.

European Trade Commissioner Maros Sefcovic and Commissioner for Agriculture and Food Christophe Hansen are on a visit to India from September 12-13. They will lead the negotiations on the Free-Trade Agreement between India and the European Union.

- ANI